Understanding Socialism (Democracy at Work, 3)

Synopsis

What does socialism actually mean, and how has it evolved over time? In Understanding Socialism, economist Richard D. Wolff offers a clear, accessible introduction to one of the world's most debated political and economic traditions. Separating common misconceptions from historical reality, he traces socialism's development from its origins as a response to capitalism through its many interpretations and applications across different societies.

Drawing on history, economics, and political theory, Wolff examines the experiences of countries including Russia and China, exploring both their achievements and their shortcomings. He also presents a contemporary vision of socialism centered on workplace democracy, where workers collectively participate in the decisions that shape their economic lives. Practical, thoughtful, and engaging, Understanding Socialism invites readers to reconsider how economies can be organized to promote greater equality, democracy, and human flourishing.

About the Author

Richard D. Wolff is an American economist, professor emeritus of economics at the University of Massachusetts Amherst, and one of the world's leading public commentators on capitalism and alternative economic systems. He is the author of numerous books, including Understanding Marxism, Democracy at Work, and Capitalism Hits the Fan. His work focuses on economic democracy, worker self-directed enterprises, and the history of political economy.

Publisher
Common Notions

Publication Date
July 22, 2025

Format
Paperback

Pages
240

Subjects
Politics · Economics · Socialism · Political Philosophy

ISBN
9798888904596